Saudi hosts G20 talks on virus recovery, debt relief

G20 finance ministers and central bankers are set to hold talks Wednesday aimed at spurring global recovery from a coronavirus-triggered recession while considering a...

Govt to disburse Rp3.3 trillion grant for hard-hit tourist industry

Tourism and Creative Economy Minister Wishnutama Kusubandio vowed on Tuesday to disburse a Rp 3.3 trillion (US$ 224 million) grant for tourism-related businesses and...

IMF warns of lasting damage, long climb out of recession

The global economic crisis will not be quite as grim as feared this year, but gross domestic product (GDP) will still contract 4.4 percent...

Preemployment card program helps boost financial inclusion: Director

The government’s preemployment card program has prompted 728,000 underbanked people to board e-wallet platforms and create a bank account for the first time, hence...

Jasa Marga issues Rp566 billion in short-term commercial papers

State-owned toll road operator PT Jasa Marga has issued Rp 566 billion (US$38.44 million) worth of commercial papers (SBK) with a one-year maturity to...

K-pop group BTS’ label Big Hit debuts at double its IPO price

Big Hit Entertainment, the management label of popular South Korean boy band BTS, debuted at double its initial public offering (IPO) price on Thursday...

Big US banks offer muddled outlook on how bad coronavirus losses might get

Will loan losses from the coronavirus recession get worse, much worse or extremely worse over the next six-to-12 months? All of the above, bank...

Wells Fargo fires over 100 employees for COVID-19 relief fund misuse: Source

Wells Fargo & Co has fired about 100 to 125 employees for unethically availing themselves of coronavirus relief funds, according to a source familiar with...

Factory activity improves in Q3 but remains below pre-pandemic level

Factory activity in Indonesia showed signs of improvement in the third quarter after recording the deepest slump ever in the previous quarter, as the...

Govt eyes Japanese companies to relocate to Indonesia amid slowing investment

The government aims to lure Japanese companies into relocating to Indonesia, as it launched on Wednesday an integrated data platform to spur investment and...

Pintek launches fast lending product to help education funding amid pandemic

Education-focused peer-to-peer lender Pintek launched on Thursday a fast lending product to help students and parents get funds during the pandemic. The product, called Pintek...

Consumers’ concerns hamper electric vehicle adoption in Indonesia: Experts

The government’s target for mass adoption of electric vehicles (EV) in Indonesia is facing challenges amid consumers’ concerns about technology and pricing, in addition...

High frequency data key to better mitigating COVID-19 crisis, researcher says

The COVID-19 pandemic has affected the global economy and financial markets. In Indonesia, the government has made various efforts to curb the spread of COVID-19,...

Trade data show ‘encouraging sign’ of economic recovery

Indonesia booked its highest exports in six months, driven by rising shipments of agricultural and manufactured goods in September, Statistics Indonesia (BPS) announced Thursday. In...

Indonesia foreign debt rises as govt borrows from multilateral organizations

  Indonesia’s foreign debt rose by the end of August as the government borrowed funds from multilateral organizations to cover the country’s fiscal deficit, while...

Trump mulls higher US stimulus offer as Mnuchin downplays deal

Lawmakers and the White House are unlikely to finalize a new stimulus plan before the November election, United States Treasury Secretary Steven Mnuchin said...

New US jobless claims rise sharply to 898,000 last week

New applications for United States jobless benefits rose unexpectedly last week to 898,000, the Labor Department said on Thursday. The 53,000 increase from the prior...

Weak loan growth, rising savings signal further GDP contraction: Economists

Slowing loan growth and rising savings point to a continued plunge in economic activity in the third quarter of this year as consumer spending...

Dollar heads for weekly gain as pandemic recovery stalls

The dollar was headed for its best week of the month on Friday, as surging coronavirus cases and stalled progress toward United States stimulus...

Mining giant BHP signals shift away from coal as profits dip

Mining giant BHP said profits fell four percent in the year ending in June, as the Anglo-Australian firm signaled a transition away from the...

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